Answered: In the recent year Sheridan Company had…

In the recent year Sheridan Company had net income of $207400, interest expense of $54000, and tax expense of $95000. What was Sheridan Company's times interest earned for the year? 4.8 3.8 5.6 6.6

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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In the recent year Sheridan Company had net income of $207400, interest expense of $54000, and tax expense of $95000. What was Sheridan Company's times interest earned for the year?

4.8

3.8

5.6

6.6

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